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  • 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X13228856

    48 Stephen Street 22 - East of Sir John A. Blvd Kingston K7K 2C3
    Main Photo: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X13228856

    48 Stephen Street Kingston K7K 2C3 22 - East of Sir John A. Blvd

    $2,375,000 /For Sale
    Commercial
    Status:
    Active
    MLS® Num:
    X13228856
    Major Bus.:
    Apts - 6 To 12 Units
    Total Area:
    10,000 sq. ft.
    Well-located 12-unit apartment building in Kingston's highly sought-after Inner Harbour District. The property generates a current NOI of $106,803 and is approximately 21% under-rented across the building, offering immediate and measurable upside through rent optimization. The building is in good overall condition, with several capital improvements already completed. Rents are inclusive, with landlord-paid utilities, creating potential for future expense optimization. On-site parking enhances tenant appeal and long-term stability. This asset qualifies for CMHC MLI-Select-style financing, making it an attractive opportunity for investors seeking leverage, income growth, and a strong downtown location with limited multi-residential supply. Full financials, rent roll, and supporting documentation are available in the data room. Serious buyers are encouraged to review the materials to fully understand the income upside and financing potential. More details
    Listed by RE/MAX RISE EXECUTIVES, BROKERAGE
    LISTING DETAILS
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Data was last updated October 9, 2026 at 06:15 PM (UTC)
The enclosed information while deemed to be correct, is not guaranteed.
This website may only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered via the website. The data relating to real estate on this website comes in part from the MLS® Reciprocity program of the PropTx MLS®. The data is deemed reliable but is not guaranteed to be accurate.